Saturday, December 31, 2011

Finance and insurance are 8.4% of our GDP

Why financial crises are correlated with an increasingly clueless plutocracy...

"There are two sustainable ways to make money in finance: find people
with risks that need to be carried and match them with people with
unused risk-bearing capacity, or find people with such risks and match
them with people who are clueless but who have money." - J. Bradford DeLong